Market Reversal Signals Trouble - Focus Is Still On Politics - Downside Will Be Tested

One Option Trading Blog http://ift.tt/2nHafsX Posted 9:00 AM ET - Yesterday the market rallied on a strong ADP report. Private payrolls increased by 262,000 during the month of March (much better than expected). Stocks shot higher and the SPY rallied above resistance at $236.50. There were signs of selling pressure early in the day and we saw a full-blown reversal. The reversal was bearish. As I've been saying for the last week financials are the key to any rally. They opened strong and they faded instantly. J.P. Morgan Chase and Wells Fargo will report earnings a week from today. Political uncertainty has the market on edge …